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The Economic Benefits of Vaccination: Lives and Livelihoods

The Economic Benefits of Vaccination: Lives and Livelihoods
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Across the globe the COVID-19 pandemic has undermined the stability of already struggling economies. A study from December 2020 estimated the real GDP growth of The Kingdom of Eswatini contracted by at least 3.2% during the first year of the COVID-19 pandemic.

A similar contraction rate has been documented across most African countries. This has been attributed to the COVID-19 pandemic due to the intimate link between a nation’s health care system and economic security.

Within the last decade, there have been signs that indicated the economy was on the rise. However, in 2020 this initial positive economic trajectory was undermined by the COVID-19 pandemic. The COVID-19 pandemic must therefore be understood as not only a health crisis but as an economic one.

 

So far, in The Kingdom of Eswatini, there have been over 69 000 confirmed cases of COVID-19 and over 1400 deaths. The World Health Organisation, however, have estimated that the actual deaths are much higher than the recorded numbers. Relatively low vaccination rates and a lack of access to medical care have caused concern among both the medical community and economists for the country’s recovery.

Vaccination minimises the risk of becoming seriously ill which could lead to hospitalisation and death. Becoming seriously ill also generates unnecessary medical fees. In other words, there are major economic incentives for both individuals and businesses to encourage vaccination. Getting vaccinated remains the most direct and effective way of resuscitating a floundering economy.

CEO of Eswatini Business Health and Wellness, Thobile Dlamini, states that:

“Opening up our economy and enabling the informal and formal business sectors to conduct business at the level they were doing before COVID-19 is critical. This was the motivation driving our organisation, in collaboration with our partners, to vaccinate over 60 000 people. We are continuing to successfully vaccinate EmaSwati and hope to vaccinate 60 000 more.”

To combat both the lack of access to health care and address economic concerns, the key strategy of the state is to allow for private sector led economic reform. Among many private organisations leading the way to economic recovery is Eswatini Business Health and Wellness. Eswatini Business Health and Wellness is an independent and non-profit organisation which brings together companies, unions, and government to ensure an effective national private sector response to wellness in the workplace.

An emerging vital health issue in the workplace is the need for employees across various industries to get vaccinated and to get booster vaccinations. Eswatini Business Health and Wellness promotes vaccination in order to protect not only the physical health of workers but also the financial well-being of businesses.

Eswatini Business Health and Wellness seeks to drive a greater uptake in COVID-19 vaccination and understands that this uptake is needed to not only safeguard the individual health of employees but also the financial status of the private sector.
Distributed by APO Group on behalf of Ministry of Health, eSwatini.

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The Economic Benefits of Vaccination: Lives and Livelihoods

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